Welcome to our dedicated page for Cato news (Ticker: CATO), a resource for investors and traders seeking the latest updates and insights on Cato stock.
The Cato Corporation (NYSE: CATO) is a specialty retailer of value-priced fashion apparel and accessories that regularly reports detailed financial and operational updates. This news page aggregates company-issued press releases and market news related to CATO, giving readers a single place to review the latest information disclosed by the company.
In its recent communications, Cato has reported quarterly and full-year results, including net income or loss, sales trends, same-store sales performance, gross margin, selling, general and administrative expenses, and other key metrics. The company also provides updates on store openings, relocations and permanent closures, along with changes in its total store count across multiple states.
News items here include earnings releases such as first, second, third and fourth quarter results, as well as full-year summaries. Cato’s press releases often discuss factors affecting its performance, including consumer discretionary spending, supply chain conditions, tariffs, weather events and other economic influences identified by the company. Dividend declarations, dividend suspensions and share repurchase activity disclosed by Cato are also reflected in the news flow.
Because Cato operates the Cato, Versona and It’s Fashion concepts, news can touch on merchandising, inventory management and initiatives the company associates with productivity and efficiency. By following this page, investors and observers can review the company’s own descriptions of its operating environment, risk considerations and strategic focus as expressed in its public statements and SEC-related announcements.
The Cato Corporation (NYSE: CATO) reported a net loss of $4.5 million or ($0.21) per diluted share for Q3 2022, contrasting sharply with a net income of $8.6 million or $0.39 per diluted share in Q3 2021. Sales rose 3% to $174.9 million, while same-store sales also increased by 3%. For the nine months ending October 29, 2022, net income was $3 million or $0.14 per share, down from $43.3 million or $1.93 per share year-over-year. Despite challenges from inflation affecting discretionary spending, the company opened 7 new stores during the quarter, totaling 1,317 stores across 32 states.
The Cato Corporation (NYSE: CATO) has declared a $0.17 quarterly dividend, payable on September 26, 2022 to shareholders of record on September 12, 2022. This dividend translates to an annualized payment of $0.68, reflecting a yield of 5.8% based on the market closing price on August 25, 2022. Cato operates three retail concepts: Cato, Versona, and It's Fashion, focusing on value-priced fashion apparel and accessories. The company's strategy emphasizes exclusive merchandise at competitive prices.
The Cato Corporation (NYSE: CATO) reported a net loss of $2.3 million or ($0.11) per diluted share for Q2 2022, a significant decline from a net income of $14.0 million or $0.62 per diluted share in Q2 2021. Sales dropped by 5% to $195.0 million compared to $206.0 million a year earlier. Year-to-date, net income fell to $7.4 million or $0.35 per diluted share from $34.7 million or $1.54 per diluted share in the same period last year. Inflation and supply chain issues pressured sales and margins, indicating challenges ahead for the remainder of the year.
The Cato Corporation (NYSE: CATO) has declared a quarterly dividend of $0.17 per share, payable on June 27, 2022, to shareholders on record as of June 13, 2022. This dividend, annualized at $0.68, represents a yield of 5.4% based on the closing price on May 19, 2022. Cato is a prominent retailer offering fashionable apparel and accessories through its brands: Cato, Versona, and It's Fashion, providing exclusive merchandise at competitive prices.
The Cato Corporation (NYSE: CATO) reported a net income of $9.7 million or $0.46 per diluted share for Q1 ending April 30, 2022, a decline from $20.7 million or $0.92 per diluted share in the same quarter last year. Sales decreased 3% to $204.9 million, with same-store sales down 2%. The gross margin fell from 41.5% to 35.5% due to lower merchandise margins. While SG&A expenses as a percentage of sales improved slightly, challenges from supply chain disruptions, inflation on consumer spending, and labor market issues persist. The company opened 4 new stores, bringing its total to 1,315.
The Cato Corporation (CATO) reported a net loss of $6.5 million for Q4 FY2021, an improvement from a $8.3 million loss in Q4 FY2020. Full-year net income was $36.8 million compared to a $47.5 million loss in 2020. Q4 sales increased by 13% to $173.6 million, but decreased 8% compared to Q4 FY2019. For FY2021, total sales grew 34% to $761.4 million, though 7% lower than FY2019. The company plans to expand by opening up to 30 new stores while closing up to 25 in 2022. Supply chain issues and inflationary pressures are anticipated to persist.
The Cato Corporation (CATO) declared a quarterly dividend of $0.17 per share, payable on April 4, 2022. This represents an annualized dividend of $0.68 or a yield of 4.0% based on the closing price on February 24, 2022. Additionally, the Board authorized a 1,000,000 share increase in its share repurchase program, with approximately 379,000 shares remaining prior to this announcement. The CEO stated that this increase aims to enhance shareholder value while maintaining financial flexibility for dividends and growth initiatives.
The Cato Corporation (NYSE: CATO) announced the retirement of John R. Howe, CFO, effective January 17, 2022, after 35 years with the company. He will assist with the transition until May 1, 2022. Chuck Knight will succeed him, bringing experience from The Vitamin Shoppe and Toys 'R' Us. The company appreciates Howe's contributions, noting his leadership in financing operations. Cato operates value-priced fashion retailers including Cato, Versona, and It's Fashion, offering exclusive merchandise.
The Cato Corporation (NYSE: CATO) has declared a regular quarterly dividend of $0.17 per share, scheduled for payment on January 3, 2022. Shareholders on record as of December 20, 2021 will receive this dividend. This dividend amounts to an annualized yield of 4.3% based on the market price as of November 18, 2021, reflecting the company's ongoing commitment to returning value to its shareholders.
The Cato Corporation (NYSE: CATO) reported a net income of $8.6 million or $0.39 per diluted share for Q3 2021, marking a substantial recovery from a net loss of $3.6 million in Q3 2020. Sales rose 14% to $170.5 million compared to Q3 2020, although they fell 10% from Q3 2019. Year-to-date, net income reached $43.3 million with an impressive 42% increase in sales to $587.7 million vs. 2020. Challenges from supply chain issues and COVID-19’s Delta variant impacted Q3 sales. The company remains committed to safety and service as it navigates these challenges.